The Florida Senate

620.2118  Appraisal notice and form.--

(1)  If the proposed appraisal event becomes effective, the limited partnership must deliver a written appraisal notice and form required by paragraph (2)(a) to all limited partners who satisfied the requirements of s. 620.2117

(2)  The appraisal notice must be sent no earlier than the date the appraisal event became effective and no later than 10 days after such date and must:

(a)  Supply a form that specifies the date that the appraisal event became effective and that provides for the limited partner to state:

1.  The limited partner's name and address.

2.  The number, classes, and series of limited partner interests as to which the limited partner asserts appraisal rights.

3.  That the limited partner did not vote for the transaction.

4.  Whether the limited partner accepts the limited partnership's offer as stated in subparagraph (b)4.

5.  If the offer is not accepted, the limited partner's estimated fair value of the limited partner interests and a demand for payment of the limited partner's estimated value plus interest.

(b)  State:

1.  Where the form described in paragraph (a) must be sent.

2.  A date by which the limited partnership must receive the form, which date may not be fewer than 40 or more than 60 days after the date the appraisal notice and form described in this subsection are sent, and state that the limited partner shall have waived the right to demand appraisal with respect to the limited partner interests unless the form is received by the limited partnership by such specified date.

3.  In the case of limited partner interest represented by a certificate, the location at which certificates for such certificated partnership interests must be deposited, if that action is required by the limited partnership, and the date by which those certificates must be deposited, which date may not be earlier than the date for receiving the required form under subparagraph 2.

4.  The limited partnership's estimate of the fair value of the limited partner interests.

5.  An offer to each limited partner who is entitled to appraisal rights to pay the limited partnership's estimate of fair value set forth in subparagraph 4.

6.  That, if requested in writing, the limited partnership will provide to the limited partner so requesting, within 10 days after the date specified in subparagraph 2., the number of limited partners who return the forms by the specified date and the total number of limited partner interests owned by them.

7.  The date by which the notice to withdraw under s. 620.1119 must be received, which date must be within 20 days after the date specified in subparagraph 2.

(c)  Be accompanied by:

1.  Financial statements of the limited partnership that issued the limited partner interests to be appraised, consisting of a balance sheet as of the end of the fiscal year ending not more than 15 months prior to the date of the limited partnership's appraisal notice, an income statement for that year, a cash flow statement for that year, and the latest available interim financial statements, if any.

2.  A copy of ss. 620.2213-620.2224.

History.--s. 17, ch. 2005-267.